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Daily Business News Brief – July 26th, 2022


Dangote Industries completes N187.58bn bond issue- Punch
Dangote Industries Funding Plc has announced the completion of a N187.58bn Series 1 (Tranche A and Tranche B) Fixed Rate Senior Unsecured Bond Issue under its N300bn Debt Issuance Programme. The bond issue represents the largest local currency bond issuance by a corporate issuer in the history of the Nigerian debt capital markets, according to a statement.  The announcement was made at the signing ceremony last Tuesday….Read More

CBN disburses N68bn under 100-for-100 policy- Punch
The Central Bank of Nigeria has disbursed N68.13bn to beneficiaries under its 100-for-100 Policy on Production and Productivity since the commencement of the intervention. According to the bank, the CBN Governor, Godwin Emefiele, disclosed this in Lagos after the last Monetary Policy Committee meeting.  “Furthermore, under the 100 for 100 Policy on Production and Productivity, the Bank has released N9.98bn for five projects, bringing the cumulative disbursements under the intervention to N68.13bn for 48 projects, comprising 26 in manufacturing, 17 in agriculture, three in healthcare and two in the services sector,” …..Read More

Dangote Industries completes N187.58bn bond issue- Thisday
The Nigerian Bottling Company (NBC) has stated that its investment in Nigeria has reached over €1 billion over the past ten years, noting that the move demonstrates its confidence in the nation’s investment climate.  The Managing Director, NBC Limited, Matthieu Seguin, stated that the investment helped to boost its production capacity, build warehouses, invest in eco-friendly businesses that has provided job opportunities to thousands of Nigerians across the country….Read More

Removal of subsidy, NNPC import monopoly’ll end queues– Marketers – Thisday
Queues for Premium Motor Spirit, popularly called petrol, will end when the Federal Government halts PMS import monopoly of the Nigerian National Petroleum Company Limited and stops subsidy on petrol, the President, Petroleum Retail Outlet Owners Association of Nigeria, …Read More

Insecurity: Agric imports exceed exports by N443.35bn – Punch
The value of agricultural goods imported into the country exceeded exports by N443.35bn in the first quarter of 2022 amid rising security challenges that have continued to affect the fortunes of the sector, according to figures obtained by our correspondent  Data obtained from the National Bureau of Statistics revealed that “the value of total trade in agricultural goods in Q1, 2022 stood at N644.94bn of which exports were valued at N201.59bn in Q1, 2022.”…..Read More

Constrained by Scarce FX, Agro-allied Firm Resorts to Backward Integration – Daily Independent
Amidst the current challenges of foreign exchange accessibility as well as the devastating impact of the COVID-19 pandemic, PET Agro Limited, said it has resolved to embrace backward integration which is more beneficial to both the company and the Nigerian economy in general.  It said it also planned to fully set up a local vegetable oil plant to be sited in the oil palm and cashew producing areas in Kogi State by 2023.…..Read More
fake richard mille
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